Michael Saylor is buying Bitcoin again, even as the company’s stock faces its toughest stretch this year. The billionaire’s company, which currently operates under the name Strategy (formerly MicroStrategy), added an additional 487 BTC worth $49.9 million.
Here’s what you need to know:
Another confident bet on Bitcoin
From November 3rd to November 9th, Strategy purchased Bitcoin at an average price of $102,557 per BTC, bringing its total holdings to 641,692 BTC. The company has spent about $47.54 billion on Bitcoin to date, averaging $74,079 per coin.
The acquisition was funded by proceeds from the sale of STRF, STRC, STRK and STRD stock under the company’s at-the-market (ATM) program, according to the filing.
Michael Saylor confirmed the move to X.
Tweets that caused a buzz
Just before this news, Saylor posted a short but meaningful message. “₿Continue.” For longtime followers, this was enough to signal that new Bitcoin purchases were coming. His post also featured a graph of the familiar orange dots.
Saylor’s post came as Goldman Sachs predicted the Federal Reserve could start cutting interest rates by the end of 2025. This move typically benefits risky assets such as Bitcoin.
With BTC hovering around $106,000, many took Saylor’s tweet to mean that he wasn’t finished accumulating his Bitcoin.
Stock prices plummet
While Strategy continues to accumulate Bitcoin, its stock price has taken a big hit. Strategy shares have fallen nearly 60% over the past year, hitting a 52-week low of $219.68 last Friday, down from a high of $473 last November.
As Bitcoin falls into trouble, the company’s stock will come under increasing pressure.
Still, the company is not backing away. The company recently raised €620 million through a preferred stock offering, with the funds intended to buy more Bitcoin.
big picture
But that didn’t stop Sailer. Strategy is one of the world’s largest Bitcoin holders. And despite market volatility and falling stock prices, Saylor seems to be sending a clear message that his faith in Bitcoin remains strong.
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